The Role of Repos in Monetary Policy Implementation

Gara Afonso, Jun-Davinci Choi, Gonzalo Cisternas and Will Riordan
Additional contact information
Gonzalo Cisternas: https://www.newyorkfed.org/research/economists/cisternas

No 20260930, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: In the first two posts of this three-part series, we discussed private market participants that are active in repo markets for profit-making motives. Central banks are also active repo market participants, but their reasons often differ from those of private participants. In today’s post, we discuss how central banks use repos to manage liquidity in the financial system and implement monetary policy.

Keywords: central bank repos; Federal Reserve; standing repo operations (SRPs); overnight reverse repo (ON RRP) (search for similar items in EconPapers)
JEL-codes: E52 E58 G1 N10 (search for similar items in EconPapers)
Date: 2026-09-30
References: Add references at CitEc
Citations:

Downloads: (external link)
https://libertystreeteconomics.newyorkfed.org/2026 ... licy-implementation/ Full text (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fednls:103858

Ordering information: This working paper can be ordered from

DOI: 10.59576/lse.20260930

Access Statistics for this paper

More papers in Liberty Street Economics from Federal Reserve Bank of New York Contact information at EDIRC.
Bibliographic data for series maintained by Gabriella Bucciarelli ().